Rhumbline Advisers trimmed its position in Axalta Coating Systems (NYSE:AXTA) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,478 shares of the specialty chemicals company’s stock after selling 5,501 shares during the period. Rhumbline Advisers owned 0.09% of Axalta Coating Systems worth $6,415,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. American International Group Inc. bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $163,000. Advisor Group Inc. lifted its holdings in shares of Axalta Coating Systems by 30.9% during the 4th quarter. Advisor Group Inc. now owns 8,001 shares of the specialty chemicals company’s stock worth $258,000 after acquiring an additional 1,887 shares during the last quarter. Rothschild Investment Corp IL bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $265,000. BB&T Corp lifted its holdings in shares of Axalta Coating Systems by 49.2% during the 4th quarter. BB&T Corp now owns 10,770 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 3,553 shares during the last quarter. Finally, Yakira Capital Management Inc. purchased a new position in Axalta Coating Systems in the 4th quarter worth $359,000.
In other Axalta Coating Systems news, VP Sean M. Lannon sold 3,892 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $31.12, for a total value of $121,119.04. Following the transaction, the vice president now owns 25,273 shares in the company, valued at $786,495.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven R. Markevich sold 82,838 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $30.61, for a total transaction of $2,535,671.18. Following the completion of the transaction, the executive vice president now owns 323,875 shares in the company, valued at approximately $9,913,813.75. The disclosure for this sale can be found here. Insiders sold 713,316 shares of company stock worth $22,307,689 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, April 25th. The specialty chemicals company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Axalta Coating Systems had a net margin of 0.94% and a return on equity of 20.56%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities analysts predict that Axalta Coating Systems will post 1.32 EPS for the current year.
A number of equities analysts recently commented on the stock. Seaport Global Securities cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 17th. Zacks Investment Research cut shares of Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 10th. Bank of America upgraded shares of Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a research report on Friday, April 27th. JPMorgan Chase lifted their target price on shares of Axalta Coating Systems from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. Finally, BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Axalta Coating Systems has an average rating of “Hold” and a consensus target price of $34.13.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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